Benin vs Dominican Republic
Crypto regulation comparison
Benin
Dominican Republic
No Regulation
Restricted
Benin has no specific cryptocurrency regulation. As a WAEMU member, it falls under BCEAO oversight. The BCEAO has warned against crypto but there is no formal ban.
The Dominican Republic has no specific cryptocurrency legislation. The central bank (BCRD) issued statements in 2017 and 2021 warning that crypto is not legal tender and prohibiting regulated financial institutions from dealing in digital assets under Monetary Law No. 183-02. Individual use is not criminalized but operates in a restricted gray area.
Tax Type
None
Tax Type
Unclear
Tax Rate
N/A
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
Yes
Regulator
BCEAO (Central Bank of West African States)
Regulator
Banco Central de la República Dominicana (BCRD), SIMV
Stablecoin Rules
No stablecoin regulation
Stablecoin Rules
No stablecoin regulation
Key Points
- No specific national cryptocurrency legislation
- BCEAO provides regional monetary and regulatory oversight
- Part of the WAEMU monetary zone using the CFA franc
- Limited crypto adoption
- No licensing framework for crypto businesses
Key Points
- No specific cryptocurrency legislation exists
- BCRD prohibits regulated financial institutions from dealing in crypto
- Crypto is not recognized as legal tender
- No licensing framework for crypto exchanges
- Crypto gains treated as taxable income when converted to Dominican pesos